Question

Q3: Calculate the compound interest accrued on Rs.20000 in 3 years, when the rates of interest for successive years are 8%, 10% and 12%.​

Answer 1

Here, Principal amount (P)=20000 Rs

So, amount after first year =20000(1+10100)1

Amount after second year =20000(1+10100)(1+10100)1Amount after third year =20000(1+10100)(1+10100)(1+12100)1

=20000∗1110∗1110∗112100=224∗121=27104 Rs

∴ Compound interest =27104−20000=7104 Rs

hope it helps .

$answer \: is \: 7104$